Vancouver, B.C. – September 25, 2025 – TheNewswire - Plank Ventures Ltd. (“Plank” or the “Company”) (CSE:PLNK) announces that it has entered into a binding share purchase agreement with Mobio Technologies Inc. (TSXV: MBO) (“Mobio”) pursuant to which Plank has agreed to sell its investment in Karve IT Ltd. (“Karve”) consisting of 310,000 common shares of Karve in exchange for 2,861,538 common shares of Mobio (the “Agreement”).

 

Karve is a software development company operating under SaaS business model. Karve specializes in developing customer relationship management, franchise management and field services software which enables operational scalability and data driven workflows. Karve’s flagship product Move Right is in use across 20 locations in North America.

 

Completion of the Acquisition is subject to regulatory acceptance. The Acquisition cannot close until the required acceptance is obtained. There can be no assurance that the Acquisition will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the news release, any information released or received with respect to the Acquisition may not be accurate or complete and should not be relied upon.

 

Transaction Details:

 

Proposed Closing Date: September 30, 2025, or a later date depending on the receipt of regulatory acceptance (the “Closing Date”).

 

Share Exchange: Plank has entered into a share purchase agreement with Mobio whereby Mobio will acquire Plank’s investment in Karve consisting of 310,000 common shares, in exchange for the issuance of 2,861,538 of shares of Mobio from treasury. Plank’s shares in Karve have been valued at $186,000, or $0.60 per share, and number of Mobio shares was determined at the market price closest to the date of the purchase agreement.

Finder’s Fees: No finder’s fees are payable in connection with the sale of Karve shares to Mobio.

Non-Arm’s Length Transaction: The transaction is a related party transaction as Mobio and Plank have common control and management.  The transaction is exempt from the formal valuation and shareholder approval requirements pursuant to sections 5.5 and 5.7 respectively of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions because the fair market value of the transaction does not exceed 25% of market capitalization of Plank.

Following completion of the transaction, Plank will no longer hold equity shares in Karve and will hold 2,861,538 shares of Mobio.

  

About Plank Ventures Ltd.

Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that have an established customer and revenue base and are seeking funding for expansion.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Laurie Baggio”

CEO and Director

For additional information please contact:

 

Laurie Baggio, CEO Tel:  778 300-7565

 

Forward Looking Statements

Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding the sale of Karve shares to Mobio,  future plans and objectives of Plank are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Plank are those risks described herein and from time to time, in the filings made by Plank with Canadian securities regulators. Those filings can be found on the Internet at: http://www.sedarplus.ca under the profile of Plank. Investors must not rely on the forward-looking statements.